6,781 Shares in EMCOR Group, Inc. (NYSE:EME) Acquired by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,781 shares of the construction company’s stock, valued at approximately $2,476,000.

Several other institutional investors also recently bought and sold shares of EME. Norges Bank acquired a new position in shares of EMCOR Group during the 4th quarter valued at $153,739,000. Burgundy Asset Management Ltd. lifted its stake in shares of EMCOR Group by 1.7% during the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after purchasing an additional 11,479 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after buying an additional 134,575 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of EMCOR Group by 20.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock valued at $152,170,000 after buying an additional 73,975 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of EMCOR Group by 155.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after buying an additional 126,148 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the sale, the director now owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, DA Davidson increased their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

EMCOR Group Price Performance

NYSE:EME opened at $396.42 on Monday. The firm has a 50-day moving average of $368.41 and a two-hundred day moving average of $363.31. The stock has a market cap of $18.63 billion, a P/E ratio of 26.15 and a beta of 1.07. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $401.98.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the business posted $2.95 earnings per share. EMCOR Group’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts expect that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group announced that its board has initiated a stock buyback plan on Friday, June 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were paid a $0.25 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

EMCOR Group Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.